Bitcoin is currently facing significant price resistance at $104,000, with traders concerned about establishing support above the critical $100,000 mark. After recent gains of nearly 10% in a matter of days, market participants are closely monitoring Bitcoin's price action, especially in light of the previous lows of $75,000 this year. Market analysts have noted that the surge in price has been largely driven by headlines, which has introduced volatility into trading activities. One trader emphasized the need for strong 'passive flows' to sustain the momentum needed for higher valuations, cautioning that liquidity at current levels is skewed towards lower prices. According to Fibonacci retracement analysis, Bitcoin currently sits at crucial technical levels, with insights indicating the need to clear resistance before reaching new all-time highs. As price action unfolds, potential volatility might arise due to liquidity conditions surrounding $100,000, making it a pivotal zone for upcoming market movements.

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